To reach an agreement on 10 memorandums...the start of the meetings of the sixth session of the Iraqi-Iranian committee in Tehran, 6 MAY

   To reach an agreement on 10 memorandums...the start of the meetings of the sixth session of the Iraqi-Iranian committee in Tehran

Today, Sunday (May 5, 2024), the Ministry of Commerce announced the start of the meetings of the sixth session of the Iraqi-Iranian Committee in Tehran.

The ministry’s media stated in a statement received by “Baghdad Today” that “the meetings of the sixth session of the joint Iraqi-Iranian committee began in the Iranian capital, Tehran, which is headed by the Iraqi side, Minister of Commerce Atheer Daoud Al-Ghurairi, to discuss strengthening economic and trade relations and understanding the ten joint memorandums of understanding that the two sides intend to sign.” in various fields and in a manner that serves their common interests.”

He explained, "The committee's work will continue over the fifth and sixth days of this month of May, as today the discussions of the specialized committees will take place, in the presence of members of the delegations of both sides, to reach the final joint report, at the headquarters of the Iranian Ministry of Economy and Finance."

The statement indicated that "the specialized committees included the Commercial, Industrial, Agricultural, Standardization and Quality Control Committee, the Energy Committee, the Financial, Banking, Investment and Insurance Committee, the Shipping, Transport and Customs Committee, and the Scientific and Educational Consulate Committee, Tourism, Health and Sports".  link

"RV UPDATE" BY ARIEL, 6 MAY

 ARIEL

 To Float Or Not To Float

If Iraq decides to come out with a fixed exchange rate of 3.00 (assuming you mean 3.00 Iraqi Dinars per 1 US Dollar), it would mean that the central bank commits to maintaining this exchange rate by actively buying or selling its currency in the forex market. This can provide stability and predictability for international trade and investment, but it also requires the central bank to have sufficient foreign currency reserves to defend the fixed rate. This is exciting. Because if they come out with a fixed rate we do not have to wait for them to gradually increase the value where we would initially have to go to the bank and exchange a little of our Dinar just to pay bills while we sit on the rest of it waiting for it to get to 3 dollars. So if they stick to this plan you all will wake up with a strong rate where you can exchange all of your IQD at the fixed price.

https://dinarevaluation.blogspot.com/2024/05/to-float-or-not-to-float-by-ariel-3-may.html

The Forex Market, Ariel

• The Zim 2008-2009 printed Trillions [and Billion] Series aren’t FIAT money, they’re “Promissory Notes”.
• Each and every note says “Promise to pay the bearer on demand” [as seen above]. Therefore it is illegal in every country per UCC Law [Uniform Commercial Code] not to honor.”
• This means once Zimbabwe reinstate  their new currency on the Forex Market, you will be able to redeem them at the new value.
• Same for Iraqi Dinar.
• Same for Vietnamese Dong.
• You cannot do anything with either currency until they are officially on the Forex.
• What country just announced they are ready to intervene into the Forex? Vietnam.
• What country also announced they are preparing to reintegration back on the Forex Market? Zimbabwe.
• This is where the rubber meets the road for all of us. So please understand this basic point of this entire process. Any demonitized paper currency in their country is to pave the way for new redesigned currency with better security features and a new modern application for new value added for the citizens in that particular country.
• Participating in the global forex market would allow for increased liquidity of the Zimbabwean dollar, making it easier for individuals and businesses to buy and sell the currency.
• A gold-backed currency could help stabilize the value of the Zimbabwean dollar, especially if the country maintains sufficient gold reserves and manages its monetary policy effectively. This stability could be further enhanced by participation in the forex market.
• A more stable and globally traded currency could make Zimbabwe a more attractive destination for foreign investment, which could help stimulate economic growth and development. 
• Rejoining the forex market would make it easier for Zimbabwean businesses to engage in international trade, as they would have access to a more widely accepted currency for transactions.
• Participating in the global forex market would require Zimbabwe to adhere to international standards and best practices, which could help improve transparency and accountability in the country’s financial system.
• By having a presence in the forex market, Zimbabwe could potentially gain better access to global financial markets, making it easier to borrow funds and access other financial resources.
• This goes for all countries rejoining the foreign exchange markets with new gold backed currency. https://twitter.com/prolotario1/status/1785684677979775130?s=5

https://dinarevaluation.blogspot.com/2024/05/about-forex-market-by-ariel-3-may.html

Iraqi Dinar🔥Prediction Rate Of Iraqi Dinar RV $4.25 Today 2024🔥iraqi Din...

Advisor to the Prime Minister: Iraq is a fertile environment for projects, and there is an expansion of investor desires, 6 MAY

 Advisor to the Prime Minister: Iraq is a fertile environment for projects, and there is an expansion of investor desires

INA Advisor to the Prime Minister for Investment Affairs and Head of the Iraq Fund for Development, Muhammad Al-Najjar, confirmed today, Saturday, that Iraq is a fertile environment for projects and there is an expansion of investors’ desires to enter it. 

Al-Najjar told the Iraqi News Agency (INA): “The government has taken an approach that has intensified efforts to invite many countries and companies to invest in Iraq, and Prime Minister Muhammad Shiaa Al-Sudani is taking advantage of his foreign tours, the most recent of which is his participation in the World Economic Forum in Saudi Arabia, with great work and activity to support investment in Iraq by inviting companies.” To enter Iraq.

He added, "The economic forum in Riyadh, which was held recently, was attended by a large number of decision-makers from companies and countries that will have a clear role in entering Iraq," noting, "Iraq in the forum focused on 3 main topics, which are energy, agriculture, and information technology." .

He pointed out that "the Prime Minister's visit during his participation in the forum held in Riyadh included political meetings and many economic files were raised," noting that "Iraq has begun to compete with many countries of the world by inviting investors to come to the country."

He pointed out that "Iraq It has large investment opportunities amounting to $450 billion allocated to projects that need marketing in order to attract capital.
He stated, “There is a strong desire from Saudi investors to enter and expand their work in Iraq,” explaining, “The large Iraqi market is full of opportunities, especially in the field of industry, and Arab and international companies can establish factories in the country.”

He continued, "Iraq is a country fertile with investment opportunities and has begun to gradually rise on the economic map among countries in light of the current government's continuous work to improve the economic and investment situation." . link

"RV UPDATE" BY JEFF, 6 MAY

 Jeff 

  Article:   "Parliament expects the arrival of the 2024 budget schedules"  Quote "...There are efforts to guarantee the right of many segments in the items and schedules of the 2024 budget but they cannot be judged without waiting for the numbers they contain."

 The rate has to change before parliament can approve the amendments to this budget.  This is why I showed you the final countdown a few days ago because I knew this was coming forward and here it is for you...

Mid last week I posted  "The Final Countdown" 

  ...Here's the reason why right here...The approval of Iraq's budget is waiting on the rate change.  That's why it's been outstanding/ pending for 6 weeks.  This week we're entering into will be its seventh week.  In order for them to complete and approve, the budget is waiting for the rate to change ...You're seeing countless articles on this.  This is a critical piece to the timing of the rate change. 

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-jeff-1-may.html

The next big step in this is we want to see when Iraq will be amending their budget...They can amend it before or after the rate changes...

 This weekend coming up would be the historical anniversary date of when Kuwait reinstated their currency - March 24, 1991

 Iraq technically does not need to amend the budget if they're not changing their rate.  

The budget already covers their operating expenses.  But they would need surplus funds to cover the reforms.  The reforms are contingent upon the rate changing.  They can't bring these reform package forward if the rate does not change.  The only reason they're amending the budget is because the rate is changing...The step of amending the budget can happen either before or after the rate changes  ... They will probably announce Thursday or Friday as to when they plan to amend the budget, which they'll probably do around this weekend...

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-jeff-22-march.html

Iraqi Dinar | Revaluation News Last 24 Hours | Rv Update IQD Dinar News ...

Al-Rafidain Bank announces the implementation of the comprehensive banking system in its branches in Karbala and Mosul, 6 MAY

 Al-Rafidain Bank announces the implementation of the comprehensive banking system in its branches in Karbala and Mosul

Al-Rafidain Bank announced, this evening, Saturday, the implementation of the comprehensive banking system in its Hindiya branches in Holy Karbala and Ashur in Mosul.

A statement from the bank, a copy of which {Al-Furat News} received, stated: “To join the branches that have activated the comprehensive system in Baghdad and the governorates, in addition to the branches of the border crossings (Zurbatiyah - Safwan - Arar - Trebil) in an important step to leave the paper work and move completely towards... Electronic transformation. 

The bank confirmed, “The plan for digital transformation and adoption of the comprehensive banking system is proceeding according to the set timings to include all branches of the bank in implementing the system, especially since one of the priorities and adoptions of the government program is electronic transformation in financial transactions, reducing episodes of red tape for citizens, and reducing time and effort in completing citizens’ transactions.”  link